Disney board has relatives in company

BURBANK, Calif. (CBS.MW) - A shakeup either in the ranks or on the board of Walt Disney Co. may be in the offing because several directors have relatives working in the company.

Officials at Disney
DIS, +0.48%
said they were currently reviewing the appropriate steps to take to ensure compliance with corporate "best practices."

In a filing with the Securities and Exchange Commission, Disney said director Reveta Bowers' adult son, Craig Bowers, worked at the company's Internet operations during 2001, earning $81,863 in compensation. Craig Bowers is no longer employed at the company.

And board member John Bryson's wife, Louise, is an executive vice president for sales and marketing at Lifetime Entertainment, a cable network in which Disney holds an indirect 50 percent interest. Louise Bryson earned $1.4 million last year.

Disney has undertaken a number of initiatives in an effort to lift the image of its board. Among the changes, Disney is trying to cut the number of insiders on its board, and add more outside directors. It also no longer pays consulting fees to directors and has eliminated whatever business relationships it has.

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